U.S. Congress Vote Marks Big Step For IMF Reform, Funding |
|
June 18,2009
Approval by the U.S. Congress of a package of measures related to the IMF gives a big boost to international funding to combat the global economic crisis and marks a significant step forward in reforming the 185-member intergovernmental institution that has taken a central role in channeling assistance to countries hit by the financial turmoil.
Approval by the U.S. Congress of a package of measures related to the IMF gives a big boost to international funding to combat the global economic crisis and marks a significant step forward in reforming the 185-member intergovernmental institution that has taken a central role in channeling assistance to countries hit by the financial turmoil.
IMF Managing Director Dominique Strauss-Kahn welcomed the approval by the U.S. Congress. “This is a significant step forward that will help the IMF in its efforts to respond to the global financial crisis and also to strengthen the governance and operations of the institution. The decision demonstrates the strong commitment of the United States to a well-governed and well-resourced IMF and, more broadly, to a multilateral approach to resolving global economic and financial challenges,” he said in a statement.
“It represents important progress in implementing the proposals put forward by the G-20 leaders, and the IMF looks forward to continue working with its membership to fulfill its mandate and to assist countries expeditiously and effectively in their efforts to weather the global financial crisis.”
Related Links
